Crown Conversions Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC245186 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

Crown Conversions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A Dewar

DM Greer

SECRETARY:

C A Greer

REGISTERED OFFICE:

Block 6, Unit 29, Stirling Road

Chapelhall Industrial Estate,

Chapelhall

Airdrie

ML6 8QH

REGISTERED NUMBER:

SC245186 (Scotland)

ACCOUNTANTS:

Wallace and Company C.A.

10 Clydesdale Street

Hamilton

Strathclyde

ML3 0DP

FIXED ASSETS

Tangible assets

2

409,664

411,654

CURRENT ASSETS

Stocks

25,780

34,066

Debtors

55,326

28,558

Cash at bank and in hand

162,853

21,860

243,959

84,484

CREDITORS

Amounts falling due within one year

3

182,784

83,659

NET CURRENT ASSETS

61,175

825

TOTAL ASSETS LESS CURRENT LIABILITIES

470,839

412,479

CREDITORS

Amounts falling due after more than one year

3

182,947

172,607

NET ASSETS

287,892

239,872

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

287,792

239,772

SHAREHOLDERS' FUNDS

287,892

239,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 December 2015 and were signed on its behalf by:

DM Greer - Director

A Dewar - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

435,571

Additions

1,148

Disposals

(1,157

)

At 31 March 2015

435,562

DEPRECIATION

At 1 April 2014

23,917

Charge for year

2,990

Eliminated on disposal

(1,009

)

At 31 March 2015

25,898

NET BOOK VALUE

At 31 March 2015

409,664

At 31 March 2014

411,654

3.

CREDITORS

Creditors include an amount of £ 122,704 (2014 - £ 137,158 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

64,628

75,749

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

5.	CONTROLLING PARTY

The company is controlled by its directors.